To say the least, $50 is an okay price to pay, but for $80, it's a rip-off.
I was a Kickstarter backer and received my GoPano after waiting half a year. The project received $169,209 from 2685 backers, which is quite a large amount of people and a huge chunk of change. The comments I've seen are almost all negative.
The truth of a matter is that it "works" in what it promised - a 360 degree video - at least it works. The video quality, on the other hand, is far away from the demonstration videos that they provided - yes, I know we're using iPhones and not professional video cameras, but still. The build of the product also feels and looks cheap, although it doesn't break easy (not that I've tried...)
You also have to download an app for that, no surprise, and it's simple to use, but I didn't even know I had to calibrate it until I had to ask. The image is very blurry even after calibration.
The case itself is very thick, made custom for the camera, but it's really chunky. People don't want to have to use the case it comes with, especially if they already spent the money for another pretty one that they chose (black is your only option!). The only thing I do like about the case is that it is easy to take off and on. The sliding and click function is pretty nice that I wish other cases had.
It should be sold for $35 or so. And the customer service should definitely be improved...understandably, it's a long way to go and a lot of hard work, but don't put out a product just to put it out and make money. It'll just make people unhappy.
But all in all, it's fun and cool - you're bound to get oohs and aahs wherever you go, and if that's your thing, what are you doing? Just get it!